State approves rates for health-care exchange

11:39 AM,
Jul. 17, 2013

Written by

Jessica Bakeman
Journal Albany bureau

ALBANY -- A total of 17 insurers have had proposed rates approved by the state for the new health care exchange, which will launch in October.

Consumers will be able to shop for health insurance in four tiers - bronze, silver, gold and platinum, the state announced Wednesday. The approved rates in two highest tiers on average are 53 percent lower than current individual direct-pay rates, according to the state.

More than a million uninsured New Yorkers are expected to be eligible for health insurance under the exchange, which Gov. Andrew Cuomo created in an executive order last year in ...